Providing Quality, Affordable Housing in the Motor City

You may not be familiar with the city of Ypsilanti, Michigan, a suburb of Detroit, but the community is full of life and has become a hub for those looking to experience a diverse mix of art, music and food. Known as “Ypsi” by the locals, it’s home to a growing seniors population and many families who commute to the Motor City.

The city’s location, coupled with its charm, has resulted in rising rent prices — making access to affordable housing an increasingly difficult challenge in recent years. 

With nearly 70% of the city’s housing units being occupied by renters, finding equitable solutions for current and future residents is a priority. That’s why Freddie Mac Multifamily recently financed a $49 million tax-exempt loan for a pair of planned developments in Ypsilanti, partnering with Optigo® lender KeyBank Community Development and Sponsor Lincoln Avenue Capital.

Expected to complete by 2024, Huron Vista Family apartments and Senior Residences at Huron will feature a total of 308 units, comprising a mix of 1-, 2- and 3-bedroom style apartments. 

These mid-rise buildings plan to feature several unique amenities, including a resident council, on-site food pantry, space for after-school programs and dedicated bus-stops.

Lincoln Avenue Capital has helped create communities for over 50,000 residents at 120+ properties across 22 states. This project continues that vision alongside KeyBank Community Development, recognized as a Top 10 Optigo Lender. We’re proud to work alongside great partners that continue to support our mutual affordable housing goals.

With 100% of the units at Huron Vista restricted at or below 60% of the area median income (AMI), KeyBank and Lincoln Avenue Capital are making great strides to bring high quality, affordable housing to more families and seniors in the Detroit area.

By focusing on the resident experience and collaborating with those who share our mission, we can continue to make home possible for those who need it most.